US Senate Says No to Obama’s $447 Billion Job Creation Plan

October 17 00:00 2011

New York, October 17 (RainbowNewsLine.com) – The US Senate has taken another tough decision when it said no to the $447 billion job creation plan proposed by President Obama. In a close competition, the US Senate said no to the bill as 50 votes were against it while 48 votes were for it.

The rejection of this proposal was pretty much expected at the start of it. President Obama had all of a sudden come up with a jobs plan. What was more interesting was the way in which funds for this jobs creation plan were to be raised. President Obama proposed that the rich be taxed and the resultant $447 billion be used by the State to create jobs.

Most senators were opposed to this idea with the most notable opposition coming from the Republicans. The Republicans have publically stated that this is nothing more than a publicity stunt. President Obama wishes to use state resources to make a name for him to ensure that he has greater chances of re-election in the forthcoming elections.

Most senators think that job creation is best done by the private sector. State interference only leads to corruption and wastage of resources. Apart from taxing the rich being a politically popular move for Barack Obama, there is no reason why the state should pass this legislation.

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